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Category Archives: Tax Planning

Unified Framework for Fixing Our Broken Tax Code

By MendenFreiman LLP |

On September 27, 2017, the Trump Administration, the House Committee on Ways and Means, and the Senate Committee on Finance released a long-awaited tax proposal, titled the Unified Framework for Fixing Our Broken Tax Code (the “Framework”). As with prior proposals, the Framework paints in broad policy strokes and is short on actual detail,… Read More »

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How to Manage a Windfall

By MendenFreiman LLP |

Coming into a large sum of money (whether from an inheritance, a gift or a legal settlement) is a good thing, but it can also have its down sides. A study of Florida lottery winners found that more than five percent of winners declared bankruptcy within five years. Managing a windfall responsibly — with… Read More »

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Leasing Property to Your Business Might Trigger Undesirable Tax Consequences

By MendenFreiman LLP |

If you own property and a business, there is an obvious temptation to lease the property to the business. Such an arrangement can make sense from many perspectives. You are no doubt familiar with the property and its advantages to your company. The deal could be carried out quickly, and the money would stay… Read More »

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Potential Tax Reform & Its Impact on Small Business

By MendenFreiman LLP |

The White House announced its tax reform plan on Wednesday, April 26, 2017, by releasing a breakdown of the key points of the plan in what is likely to be the opening bid of a long negotiation process. Of particular note for our business clients is the aggressive cut in corporate tax rates to… Read More »

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Potential Changes to Federal Tax Laws Should Not Stall Your Planning

By MendenFreiman LLP |

MendenFreiman was an Executive Sponsor at the 11th Annual Balser Symposium which took place on Friday, January 27, 2017, at the Georgia Tech Learning Center. Historically, the Balser Symposium for professional advisors focuses on the technical and sophisticated ways that clients can integrate philanthropy into their financial planning. Per tradition, Erev Balser, a small,… Read More »

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Trump Wins, Republicans Control the House and Senate. Will We See Comprehensive Tax Reform Early in 2017?

By MendenFreiman LLP |

The election of Donald J. Trump as the 45th American President was largely unexpected, and it is difficult to precisely forecast the tax changes which are ahead. President-elect Trump has proposed wide ranging changes to the U.S. tax system which will affect virtually all Americans and tax advisors. Down-ticket Republicans were also victorious in… Read More »

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Window of Opportunity May Soon Be Closing for Discount-Based Estate and Gift Tax Planning Techniques

By MendenFreiman LLP |

For several years, the IRS and the Obama Administration have let it be known that they were seeking ways to limit the use of valuation discounts for closely held business interests, including interests in family investment partnerships and limited liability companies, to reduce exposure to federal gift and estate taxes for transfers of such… Read More »

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The IRS Issues “Dirty Dozen” Tax Scams

By MendenFreiman LLP |

The Internal Revenue Service just issued a warning that scammers may try to use the April 18 tax deadline to prey on hardworking taxpayers by impersonating the IRS and others with fake phone calls and emails. By phone, many scammers are using threats to intimidate and bully you into paying a “tax bill.” They… Read More »

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There is Still Time to do 2014 Tax Planning for Trusts and Estates

By MendenFreiman LLP |

While the time for most people to do tax planning for 2014 ended on December 31, 2014, most trusts and estates have an additional window to adjust their income for that year. Section 663(b) of the Internal Revenue Code allows the trustee of most trusts or the personal representative of an estate to elect… Read More »

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